New US$20M Marriott Hotel to be constructed at CJIA by 2023
A local company, R. Bassoo & Sons Ltd, on Friday announced it has entered into initial agreements with Marriott Hotels International and the Government of Guyana to design and build a Marriott Courtyard at the Cheddi Jagan International Airport (CJIA).
The Marriott Courtyard at the CJIA will be the second Marriott hotel brand in Guyana and is anticipated to be in operation by 2023. According to a statement from R. Bassoo & Sons Ltd, the Letter of Intent (LOI) with Marriott Hotels International caters for a six-storey Marriott Courtyard with 140 rooms and amenities.
The hotel will be a one-minute drive from the entrance of the CJIA and is expected to accommodate airline crews and staff, business personnel, diplomats, and other travellers.
Construction is expected to begin in mid-2021 and will be led by Bassoo Building and Civil Engineering Contractors, with support from qualified sub-contractors who have technical experience in hotel construction.
It is projected to cost US$20 million and is fully supported by the Government of Guyana and Go-invest. Republic Bank, of Trinidad and Tobago, has already made an indicative offer of financing. Republic Bank has arranged over US$100 million in financing for other real estate projects in Guyana including Movietowne, the Pegasus Corporate Offices and Suites and the Georgetown Marriott hotel.
Chief Executive Officer (CEO) of Go-invest, Peter Ramsaroop, has illustrated his eagerness to work with investors towards the continued growth and transformation of the Guyanese economy.
These agreements follow the company’s response to the government’s request for proposal (RFP) and include; a Letter of Intent (LOI) with Marriott; a completed market study by Hotel Valuation Services (HVS), one of the foremost hotel valuation firms and a conceptual design by Urbahn Architects (New York’s 2019 Design Firm of the Year).
The company has been a major player in Guyana’s commercial, educational, and healthcare sector development for over 20 years through the construction of bridges, hospitals, secondary and primary schools, university facilities, gas stations and warehouses.
Bassoo & Sons Ltd has maintained a presence at the CJIA with The Lotus Restaurant, which it has operated for more than 20 years.